Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
For purposes of this chapter, the following terms have the meanings given in this section:
California Streets and Highways Code — §§ 2570-2580
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
For purposes of this chapter, the following terms have the meanings given in this section:
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
The Ridesharing Vanpool Revolving Loan and Grant Fund is hereby created in the State Treasury. The fund shall be administered by the department for purposes of making loans and grants to vanpool operators. Notwithstanding Section 13340 of the Government Code, all money in the fund is continuously appropriated, without regard to fiscal years, to the department to carry out the purposes of this chapter.
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
Any person may submit an application to the department for a loan from the fund to purchase a vanpool vehicle for operation by the person as a vanpool operator. Title to the vehicle shall be retained by the department until the loan is repaid in full. The loan shall be repaid over a period of time not to exceed the vehicle’s useful life. Once the loan is repaid in full, title to the vehicle shall be transferred to the vanpool operator.
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
The department shall charge a rate of interest for loans made under this chapter reasonably calculated to ultimately keep the fund at a constant level and in addition recover the administrative costs incurred by the department under this chapter.
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
The vanpool grant program shall be administered by the department. From funds appropriated to the department for the purpose, the department shall make grants to persons approved as vanpool operators for the purchase or lease of vanpool vehicles.
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
A vanpool operator who receives a lease grant shall operate the vanpool vehicle as a vanpool for the duration of the lease. The vanpool operator’s failure to do so shall result in a forfeiture of all rights under the lease, the return of the vanpool vehicle to the lessor, and forfeiture of the operator’s contribution toward the lease of the vehicle.
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
All money received by the department under this chapter shall be deposited in the Ridesharing Vanpool Revolving Loan and Grant Fund.
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
Added by Stats. 1989, Ch. 799, Sec. 2. Effective September 26, 1989.
A vanpool operator is not eligible for any California income tax deduction or credit applicable to vanpooling with respect to the amount of any grant under this chapter.
Added by Stats. 1992, Ch. 830, Sec. 1. Effective January 1, 1993.